Aditya Birla Sun Life Mutual Fund announced on January 9 the launch of Aditya Birla Sun Life Fixed Term Plan - Series UE (1275 days), a close ended debt scheme.
The new fund offer (NFO) opened on January 9 and will close on January 11, 2023. This is a scheme with relatively high interest rate risk and relatively low credit risk.
Aditya Birla Sun Life Fixed Term Plan will be managed by Mohit Sharma who has over 10 years of experience in the financial market.
The benchmark index for the mutual fund scheme is CRISIL Medium Term Debt Index. The minimum investment amount is ₹1,000 and in multiples of ₹10 thereafter during the NFO period and there is no exit load.
The objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the tenure of the scheme. The scheme does not guarantee/indicate any returns.
There can be no assurance or guarantee that the investment objective of the Scheme will be achieved, according to the AMC.
As per press release, this scheme is suitable for investors who are seeking income with capital growth over long term and want to invest in debt and money market securities maturing on or before the tenure of the scheme.
The tenure of the scheme is 1275 days from and including the date of allotment and the units of the scheme are to be listed on NSE and any other recognized stock exchanges.